Ortiz v. GENERAL MOTORS ACCEPTANCE CORP., INC.

Plaintiffs bought automobiles in Illinois and financed their purchases through retail installment contracts with the dealers who sold the autos. Each retail installment contract required plaintiffs to maintain property damage insurance coverage on the autos and allowed the contract holder to buy single interest insurance (SII), which protects only the contract holder’s investment in the vehicle, if the plaintiffs failed to maintain their insurance. The contracts with plaintiffs were assigned to defendant, General Motors Acceptance Corporation (hereinafter GMAC), which later bought SII after…